Buying things in USD

[TW]Fox;24403751 said:
There are fees, they are hidden in the rate they give you.
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Yes, I know many credit cards charge the MasterCard rate (which is actuallt pretty decent, unbelievably) however most of the cards that charge a fee charge this too. So you might as well get the same rate with no fee, you get slightly less screwed which is always a good thing.
 
lhw455 said:
Not sure why you didn't get the option, but see http://thebackpackr.com/paypal-currency-conversion-which-should-i-choose/ for what I'm referring to, works for me whenever I purchase something in anything other than GBP. Is the Visa a debit or credit card?
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I had a look at that site yesterday and was a bit confused myself. I've got the paypal account linked to my Visa credit card. Are you getting the option if you pay by logging into your paypal account as normal or do you checkout like guest without logging in?

Here's a small transaction from last week as it appears on my Visa credit card statement:

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Hamster said:
I had a look at that site yesterday and was a bit confused myself. I've got the paypal account linked to my Visa credit card. Are you getting the option if you pay by logging into your paypal account as normal or do you checkout like guest without logging in?
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Just checked it out, I am logged in, see above, works fine, it's a Mastercard though, not sure if this makes a difference or not
 
lhw455 said:
Yes, I know many credit cards charge the MasterCard rate (which is actuallt pretty decent, unbelievably) however most of the cards that charge a fee charge this too.
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I was replying to Hamish who was recommending one of those crappy prepaid Visa cards that always seem to get recommended - they are only worth it for people who have a bad credit rating and thus cannot use a fee-free credit card.
 
lhw455 said:
Just checked it out, I am logged in, see above, works fine, it's a Mastercard though, not sure if this makes a difference or not
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Thanks :) I edited my last post showing a transaction as it appears on my credit card statement. I think this means that I'm using Visa's conversion but 1.47 seems a bit low.

I'm confused :confused:
 
lhw455 said:
No idea :D TBH I've never checked that my Post Office rate uses the Mastercard rate. I would just wait for the Clarity card and check what rate they are using
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Thanks :) At least I know that I'm not using paypal's conversion rates. Hopefully the Clarity's rates are a bit better than Barclaycard's.

-edit- just realised the Clarity card is a Mastercard. Shows how much attention I pay when I sign up for things :D
 
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[TW]Fox;24409100 said:
The rates are the same but there will be no 2.99% loading applied to the rate as there is with Barclaycard and there will be no foreign transaction fee either.
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Got you, thanks. Now I understand why the disparity between 1.51 and the rate I was given that day. All is becoming clear now!! :)
 
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lhw455 said:
Just checked it out, I am logged in, see above, works fine, it's a Mastercard though, not sure if this makes a difference or not
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Just an update. I've linked my Clarity mastercard to my paypal account and I now get the conversion option when I log in to pay :)
 
Another update. I used the Clarity card in one of those newsagent ATM machines as it said on the screen that there would be a charge of £1.50 for use of a debit card. When I put the Clarity card in, there was another warning saying that my card issuer could charge for using the machine. Just checked my account and there were no additional charges whatsoever. This card is amazing! :)
 
Hamster said:
Another update. I used the Clarity card in one of those newsagent ATM machines as it said on the screen that there would be a charge of £1.50 for use of a debit card. When I put the Clarity card in, there was another warning saying that my card issuer could charge for using the machine. Just checked my account and there were no additional charges whatsoever. This card is amazing! :)
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Sorry to dig up a thread but you missed something - this credit card charges interest on cash advances. So although you didn't get hit for the £1.50, you will have been charged interest on the withdrawal, at 1-2% per month (depending on your credit rating). If it was less than a £100 withdrawal and you paid off in full then it was the right decision though.
 
joeyjojo said:
Sorry to dig up a thread but you missed something - this credit card charges interest on cash advances. So although you didn't get hit for the £1.50, you will have been charged interest on the withdrawal, at 1-2% per month (depending on your credit rating). If it was less than a £100 withdrawal and you paid off in full then it was the right decision though.
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Holy resurrection :) Yes, I'm aware of the interest on cash withdrawals which accrues daily. You're right in pointing it that out though. I transferred that amount (£20) the next day so the interest would only have been a few pence.
 
Hamster said:
Holy resurrection :) Yes, I'm aware of the interest on cash withdrawals which accrues daily. You're right in pointing it that out though. I transferred that amount (£20) the next day so the interest would only have been a few pence.
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Sorry, it was linked from another money thread ;)
 
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